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China to adjust high incomes of monopolized industries

(chinadaily.com.cn)
Updated: 2009-09-10 11:34

China will restructure its income distribution mechanism by attaching great importance to adjusting the high incomes of those working in monopolized industries, the Shanghai Securities News reported Thursday.

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Sources revealed on Wednesday the National Development and Reform Commission, the country's top economic planner, is calling for comments for a draft document named "Opinions on Adjusting Income Distribution".

A series of policies are likely to be released in succession this year, emphasizing adjusting the high income of monopolized industries, the report said.

According to statistics released by the National Bureau of Statistics, the three industries with the highest incomes in China are the securities industry, other sectors in the financial industry and aviation transportation, with an average annual pay of 172,123 yuan ($25,205.45), 87,670 yuan ($12,834) and 75,769 yuan ($11,092) respectively, 5.9, 3.0 and 2.6 times of the country's average level.

To narrow the income gap between different industries is one of the important tasks of the new policies, sources said. One source suggests maintaining the salaries of high-income people at a reasonable level by raising the tax benchmark point in monopolized industries.